Banking System Of Armenia Completed 2Q, 2007, With Net Profit Of $29

BANKING SYSTEM OF ARMENIA COMPLETED 2Q, 2007, WITH NET PROFIT OF $29.5 MLN

arminfo
2007-07-27 12:50:00

The gross revenue of Armenia’s commercial banks over the second
quarter, 2007, grew more tan twice to 49.7 bln drams ($145.7 mln). The
expenses over the reporting period made up 37.4 bln drams ($109.7
mln) against 17.5 bln drams ($48.2 mln) in 1Q. As a result of this,
the banking system assured a balance sheet profit of 12.3 bln drams
or $36 mln upon results of 2Q, 2007 (quarterly growth more than
twice). As the press-service of RA Central Bank told ArmInfo, the
net profit over 2Q, 2007, grew more than twice to 10.1 bln drams or
$29.5 mln. In the structure of the commercial banks’ gross revenue,
the interest yields over 2Q made up 26 bln drams ($76.4 mln) or 52,4%.

Specific weight of non-interest yields in the structure of gross
revenue made up 22,9% or 11.4 bln drams ($33.4 mln). According to CB
data, 21 banks and 306 branches have been functioning in Armenia as
of June 30, 2007.